4539 NANAIMO ST., VANCOUVER
LISTING PRICE $1.198-million
SELLING PRICE $1.121-million
DAYS ON MARKET 8
LISTING AGENT Paul Albrighton, RE/MAX Crest Westside Realty
The Action: The house sold after a week of showings, with four offers presented to the seller on a scheduled offering day for $12,000 over the asking price. The buyers were a local family who purchased the home with an eye to one day taking advantage of the duplex zoning. The plan is for each sibling to live side by side, says listing agent Paul Albrighton.
What They Got: This 1941 two-storey, 2,170-square-foot bungalow has been well maintained with three bedrooms and two bathrooms.
It's located on busy Nanaimo Street in the Cedar Cottage/Trout Lake area. The house has been updated with bamboo flooring, fully renovated kitchen, bathroom and lofted attic space with skylight. It maintains its original features such as wood-burning fireplace and coved ceilings.
The lot size is 33- by 122-feet with a backyard that faces General Brock Park. It's zoned for a duplex as well as a coach house.
The Agent's Take: The house would have been priced slightly higher if it hadn't been on a busy arterial road, says Mr. Albrighton. That said, it did sell for slightly higher than other houses on Nanaimo. "If this sale had occurred in April to May this year, and four offers were submitted, I believe the sale price would have been higher given that kind of activity," he says. "It depends on the product type, but what I'm seeing for unique properties in Vancouver, prices have cooled off two to three per cent, on average from the peak pricing we saw in April to May this past year."